Quick Overview

• U.S. average hourly earnings rose 0.2% from November to December

• GM is again the world's largest automaker. Boosted by its Chevrolet brand, sales rise 7.6% to 9 million two years after its emergence from bankruptcy.
  
  
  

• (FT) A recent opinion poll conducted by GlobeScan indicated that support for the free enterprise system had fallen to about 60% in the US. Ten years ago it was at 80%.

• SABMiller (SBMRY) said group revenue rose 7% in the quarter, boosted by strong performance in Asia, Africa and Latin America. (See How Beer Saved the World :)

• MacauHub.com reports that Macau gaming and gambling revenues in 2011 were an almost five-fold increase on revenues in 2006.

• Washington Post raised its annual dividend to $9.80 from $9.40

• (T) BP is likely to agree a $25bn (£16bn) settlement with the US government over the Gulf of Mexico disaster, meaning the trial for civil claims against the oil giant will not proceed.

• Revenue at Union Pacific rose 16 % to $5.11 billion in the quarter, compared with the analysts’ average estimate of $5.06 billion

• Intel reported full-year revenue of $54 billion, operating income of $17.5 billion, net income of $12.9 billion and EPS of $2.39 -- all records. The company generated approximately $21 billion in cash from operations, paid dividends of $4.1 billion and used $14.1 billion to repurchase 642 million shares of stock.

• IBM reported a Q4 profit of $5.5 billion, or $4.62 a share, compared with a profit of $5.3 billion, or $4.18 a share, for the year-earlier.

• Google reported a 6% gain in Q4 earnings, missing Wall Street's expectations – stock is down 10%.
• U.S. online advertising spending will surpass print ad spending for the first time in 2012, according to a forecast by media research firm eMarketer